July 29, 2022

Intraday Update: TLT

TLT is probing 119 in late afternoon action, marking its fourth test of the level in five sessions. 119 has proven to be a tough area of resistance recently, so the smart thing to do right now is lighten up on risk on the Aug19 strangle in this area. The plan will be to close the current Aug19 $120 - $124 call spread and roll up to a tighter Aug19 $121.50 - $124 call spread. The next target will be 121+. The bear portion of the strangle will remain open.

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication